KCS/USD - Bulls maintain the upper hand! KCS holds above $21!

27 de nov. de 2021

Kucoin token (KCS) has been put under a lot of pressure as the bears attempted again and again to break the key support level at $21. So far the bulls have won every fight and price has stabilized just above this key level.

Key Support level: $21
Key Resistance level: $34

This week, volatility on the market was very high with BTC falling to 54K and ETH to 4k. Despite these drops, KCS has managed to maintain its price above $21. This is a sign of strength. However, when a support level is tested again and again the chance of it breaking also increased, therefore the bulls better push KCS higher soon to avoid this scenario.

Technical Indicators:

Trading Volume: Volume has remained sustained, both on bullish and bearish days. Interest in KCS is high, particularly at the current price level.

RSI: The RSI dropped under 70 points, but now appears to curve back up. Should the RSI go above 70 points again, then a rally becomes likely for KCS.

MACD: The 3-day MACD remains bullish, however, the histogram is falling. On the daily timeframe, MACD has been bearish for a while, but so long price is above $21 this is not too concerning.

Bias:

The bias for KCS is bullish and will remain so as long as price does not fall below $21, which is the current support.

Short-Term Prediction for KCS Price:

Expect to see KCS price just above the $21 support level. A breakout appears unlikely at this time and KCS can continue to consolidate for a while around this level before either the bulls or bears take control of price.

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